Eurozone lending climbs in Nov

AFP, FRANKFURT AM MAIN: Lending to households and companies picked up in November in the eurozone, the European Central Bank said yesterday, signalling that its efforts to encourage spending and investment are gaining traction.
Loans to households in the single currency area grew by 1.9 per cent year-on-year, compared to 1.8 per cent a month earlier, the bank said.
Lending to firms accelerated by 2.2 per cent, up from 2.1 per cent in October. IHS Markit economist Howard Archer described the figures as "a pleasing set of news for the ECB".
"The ECB will particularly welcome a pick-up in the growth rate in eurozone bank lending to businesses to a more than five-year high in November," he said.
The ECB has embarked on an unprecedented stimulus programme to drive up lending and inflation in the euro area, and the monthly loan growth statistics are seen as a key indicator of the effectiveness of its measures.

Eurozone lending climbs in Nov

AFP, FRANKFURT AM MAIN: Lending to households and companies picked up in November in the eurozone, the European Central Bank said yesterday, signalling that its efforts to encourage spending and investment are gaining traction. Loans to households in the single currency area grew by 1.9 per cent year-on-year, compared to 1.8 per cent a month earlier, the bank said. Lending to firms accelerated by 2.2 per cent, up from 2.1 per cent in October. IHS Markit economist Howard Archer described the figures as a pleasing set of news for the ECB. The ECB will particularly welcome a pick-up in the growth rate in eurozone bank lending to businesses to a more than five-year high in November, he said. The ECB has embarked on an unprecedented stimulus programme to drive up lending and inflation in the euro area, and the monthly loan growth statistics are seen as a key indicator of the effectiveness of its measures.